Ex-Dior designer Raf Simons crowned chief creative officer of Calvin Klein August 2, 2016 Ex-Dior designer Raf Simons has been appointed as chief creative officer of US fashion house Calvin Klein. Simons left Christian Dior last October after three years heading up the iconic French brand. Read more: Burberry has just moved further into the Chinese market In a statement on Facebook, Calvin Klein said: "Mr Simons will lead the [...]
Meet the most influential British innovator in the world August 2, 2016 Demis Hassabis, the man who founded the multi-million pound artificial intelligence company acquired by Google, has been named the most influential British innovator in the world. DeepMind hit headlines in 2014 when it was bought by Google for £400m and this year did it again when its machine learning technology beat the world-leading player of the [...]
Pfizer share price sinks despite 11 per cent revenue leap August 2, 2016 Better-than-expected quarterly revenue and profit at viagra-maker Pfizer has not managed to stiffen its share price. Sales of newer drugs and the acquisition of hospital products company Hospira have sent revenue for the US-based drugmaker up by around 11 per cent to $13.15bn (£9.8bn) in its second quarter, narrowly beating out analyst expectations of $13.01bn. Net income for [...]
GVC Holdings shares pop to 11-year high on refinancing deal with Nomura August 2, 2016 GVC Holdings' stock popped to an 11-year high today after the gaming group announced it will save €43m (£36m) a year in a refinancing deal. The online gaming company, which owns Sportingbet and took over Bwin in February, has agreed a €250m loan with Nomura to replace its existing loan with Cerberus Business Finance, less than one year after [...]
The advertising industry isn’t feeling quite so gloomy about Brexit now August 2, 2016 Sir Martin Sorrell’s reaction to the UK’s Brexit vote was: “This is not good news, to say the least.” But the latest forecasts from the advertising industry, including from GroupM, which is part of Sorrell’s WPP, appear more upbeat. In a worst-case scenario, GroupM’s worldwide media and market forecasts report predicts a 4.5 per cent [...]
Banking shares plunge across Europe as stress test fallout rumbles on August 2, 2016 Shares in Europe's leading banks have been dumped again today as the sector's woes pile up and questions over the rigour of recent stress test pushed sentiment down. German lenders Commerzbank and Deutsche Bank are trading at all time lows and the problems facing Italy's financial services remains top of the agenda. Commerzbank issued a profit [...]
Britain faces “lights out” without Hinkley Point progress, says Labour leadership challenger Owen Smith August 2, 2016 Britain faces an energy crisis with the construction of Hinkley Point on hold, according to Labour leadership challenger Owen Smith. Smith, who is bidding to replace Jeremy Corbyn as leader on September 24, said that Britain should “get on with” approving the two new nuclear reactors. Theresa May's government unexpectedly slammed the brakes on the [...]
Nine up-and-coming fintech startups to watch (and Lloyds thinks so too) August 2, 2016 A handful of startups from around the world are hoping to disrupt the big banks with new innovations after being chosen as ones to watch in the world of fintech by one of London's top accelerators and top global businesses. Startupbootcamp's fintech programme, backed by the likes of Lloyds and PwC, have chosen nine new up-and-coming early stage fintech [...]
New York deli Dean & DeLuca is setting up shop in Mayfair August 2, 2016 Famous New York deli Dean & DeLuca is bringing its gourmet food offering to Mayfair. The shop – favoured by celebrities such as Taylor Swift and Helen Mirren – is opening on 117 Mount Street early next year, joining big name brands such as Christopher Kane and Roksanda. Read more: London's most exclusive postcodes now home [...]